Is there an echo in here? We’ve been saying for a long time that home ownership is a wonderful consumer purchase, but as an investment, not so great. See Is Home Ownership The Worst Investment Ever?, The Worst Investment that You Will Every Make, and Rent or Own?
Now the Wall Street Journal is chiming in with agreement. In the 10/17/2018 WSJ, the paper reports that 78% of people say that renting is more affordable than owning according to Freddie Mac, the mortgage company.
This report reflects marketplace reality. Between high constructions costs, labor shortages and municipal barriers to development, it has been difficult to supply the market with new construction of single-family homes. A lack of new construction supply has resulted in increased demand and higher prices for existing homes. Throw an increase in interest rates into the mix and single-family home ownership just loses its economic luster.
In the meantime, our apartments continue to shine, offering more square footage and better amenities like walk-in showers, walk-in pantries, walk-in closets three car garages and massive square footage, not to mention granite counter tops and stainless-steel appliances. At least that’s what you at the Catalina Crossing Apartments where townhouses range in size up to 1775 square feet. The wannabees and the also-rans don’t have walk-in showers yet or three car garages, but someday they will. Until then, call text or email to Josh at 608-575-4377 or firstname.lastname@example.org to learn more about the Catalina Crossing Apartments in Madison.